Illumina, Inc. (ILMN) Receives Average Rating of “Buy” from Brokerages

Shares of Illumina, Inc. (NASDAQ:ILMN) have been given a consensus rating of “Buy” by the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $346.35.

A number of research analysts have recently issued reports on ILMN shares. Morgan Stanley lowered their price target on Illumina from $320.00 to $288.00 and set an “equal weight” rating on the stock in a report on Monday, January 7th. Zacks Investment Research downgraded Illumina from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Deutsche Bank downgraded Illumina from a “buy” rating to a “hold” rating and set a $296.53 price target on the stock. in a report on Friday, January 25th. Bank of America reaffirmed a “buy” rating and set a $355.00 price target on shares of Illumina in a report on Wednesday, January 30th. Finally, Leerink Swann raised Illumina to an “outperform” rating and lowered their price target for the company from $380.00 to $365.00 in a report on Wednesday, January 30th.

In other news, insider Francis A. Desouza sold 3,000 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $345.90, for a total value of $1,037,700.00. Following the transaction, the insider now owns 65,443 shares of the company’s stock, valued at $22,636,733.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Charles Dadswell sold 566 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $343.57, for a total value of $194,460.62. Following the completion of the transaction, the senior vice president now directly owns 5,606 shares in the company, valued at approximately $1,926,053.42. The disclosure for this sale can be found here. In the last three months, insiders sold 35,947 shares of company stock worth $11,026,616. 0.54% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of ILMN. Oregon Public Employees Retirement Fund raised its stake in shares of Illumina by 66,581.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,562,335 shares of the life sciences company’s stock worth $35,000 after buying an additional 10,546,495 shares during the period. Capital International Investors bought a new position in shares of Illumina in the third quarter worth about $1,482,837,000. Canada Pension Plan Investment Board raised its stake in shares of Illumina by 272.2% in the third quarter. Canada Pension Plan Investment Board now owns 1,023,452 shares of the life sciences company’s stock worth $375,668,000 after buying an additional 748,500 shares during the period. Jennison Associates LLC raised its stake in shares of Illumina by 13.5% in the fourth quarter. Jennison Associates LLC now owns 5,479,564 shares of the life sciences company’s stock worth $1,643,486,000 after buying an additional 653,348 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Illumina by 362.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 433,566 shares of the life sciences company’s stock worth $130,039,000 after buying an additional 339,908 shares during the period. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:ILMN traded up $1.32 during midday trading on Wednesday, reaching $293.52. 946,109 shares of the company’s stock traded hands, compared to its average volume of 1,076,148. The company has a market cap of $43.44 billion, a P/E ratio of 51.31, a PEG ratio of 2.03 and a beta of 1.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.49 and a quick ratio of 2.27. Illumina has a one year low of $216.34 and a one year high of $372.61.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, January 29th. The life sciences company reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.04). The business had revenue of $867.00 million for the quarter, compared to the consensus estimate of $865.33 million. Illumina had a net margin of 24.79% and a return on equity of 24.51%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.44 earnings per share. On average, sell-side analysts anticipate that Illumina will post 6.51 earnings per share for the current year.

About Illumina

Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.

Further Reading: How do taxes affect a CDs total return?

Analyst Recommendations for Illumina (NASDAQ:ILMN)

Receive News & Ratings for Illumina Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illumina and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply